Comprehensive Final Exam Study Guide
Chapter 2 - Job-Order Costing
Spencer Company produced 100,000 bobbleheads during the past calendar year. The bobbleheads sell for $10
each. Spencers accounting records provide the following infor
E. Leadership is the ability to develop a
vision that motivates others to move with a
passion towards a common goal .
W. Leaders who have ability to accomplish
Name _ Section _ Alphabetical Number _
Case Study #1
Retirement Planning and Basic Tax
1. Read the articles provided on pages 2-8. Write at least two paragraphs below discussing what you took away from
2. Visit the Khan Academy
Practice Problem Solution
Production Report (Weighted Average Cost Method)
Units to account for:
Units transferred out
Units in beginning work in process inventory
Plus: Units in EWIP
Chapter 12 Notes
Chapter 12 involves making business decisions using relevant information.
My definition of relevant information is "estimated future cash inflows and outflows that
differ among alternatives."
Sunk costs are past cost
Chapter 13 Notes
Capital Budgeting (generally an investment in a long-term asset) decisions.
In my opinion, the two best methods for decision making are:
1) Present value analysis (PV) (p 589-594 and 596-601)
2) Internal rate of retu
Chapter 11 Notes
This chapter will be pretty brief. Only need to know a few computations. All of the information we
will cover in chapter 11 is on pages 477-486.
The operating performance measures (p 486-489) balanced scorecard (p 49
Chapter 10 Notes
A pretty challenging chapter. The main learning objective is to compare budgeted production
costs (M+L+VO) to actual costs, then compute & analyze variances.
There will be up to 6 variances computed in the homework problems, 2 fo
Chapter 9 Notes
Read the chapter thoroughly and follow the Rick's Hairstyling budgeting and
performance reports. Your homework will follow the exact sequence of budget
preparation and analysis for Lavage Rapide (Exercises 10, 11, 12, 13,14).
Chapter 8 Notes
Another difficult chapter. None of the budgets are terribly difficult,
but since there are 10 different types of budgets (exhibit 8-2, page 348) it becomes a very
The following list represent the
Chapter 5 Notes
The author calls this chapter Cost-Volume-Profit (CVP) Relationships.
I call it the break-even chapter.
Glossary of abbreviations used below:
# of units sold
Managerial Accounting - Chapter 4 Notes
1) Read Chapter 4, which deals with tracking the flow of costs in a manufacturing environment
using process costing. Do NOT need to read the appendix, we will not be using the FIFO method.
2) Main learning objective
Chapter 2 Notes
Probably the most important chapter of the course as it introduces the terminology we will use all semester.
Would be a good idea to re-read the most important terms (see below) many times.
Chapter learning objectives
Student ID Number_
Chapter 12 Reading Bonus
Directions: Answer the following questions. For open response questions, I expect a response of at least
three sentences. For calculation questions, please show me your work/how
Dawn of the planet of the apes (2014)
Director: Matt Reeves
Film series: Planet of the apes reboot series
Screenplay: Rick Jaffa, Amanda Silver, and Rick Jaffa, Mark Bomback, Scott Z. Burns
Release Date: July 11,2014
What is the economic growth? Economic growth is the increase per capita gross domestic
product (GDP). The distinction between nominal and real interest rate, where the first is the
growth rate with inflation, and the second is nominal
1) According to the company operations as a whole, the Clayton processing center should not be shut
down due to the following facts:
The actual cost of the facilities at Clayton is sunk which should be unobserved in making
1) The total standard cost is $405,000 and the standard cost per unit is $18
Standard cost applied for direct materials= Total standard cost applied/ Standard cost per unit
= $405,000/$18= 22,500
So, the unit produced last year is 22,500 units
Oil, minor repairs,
Salaries and benefits
Introduction to Macroeconomics
Consider a market that produces semiconductor and air pollution. The air pollution is a
byproduct of manufacturing and increases with output. Consumers buy electronic devices but are
I) Page 28, Practice your skills, "Message for Analysis"
II) Page 56
This posting is very meaningful. The content in the posting is short and relevant. The person who
posted this blog posting could be a manager o
THE DECLINE OF PARTICIPATION IN SNOWBOARDING AND SKIING
Purpose: To explain why the snowboarding and skiing sports have declined recently and
to propose a change to bring them back.
1. The relationship between climate change and snowboard
In Figure 27.2,
( a ) How much profit does an unregulated monopolist earn?
( b ) How much profit would be earned if MC pricing were imposed?
2. Do total profits (A) decrease, (B) increase, or (C) stay the same when new technology reduces
average total cos
Introduction to Macroeconomics
Questions for Discussions
1. Why do banks want to maintain as little excess reserves as possible? Under what
circumstances might banks want to hold excess reserves?
Answer: Note that Figure 14.3 points out
Business Communication Midterm Exam
1. To adopt an audience-centered approach to communication, what do you need to learn
about your audience? Explain at least three specific attributes.
We need to learn as much as possible about the b
Page 446, Portfolio Builder #11
Many companies nowadays want to reduce the cost of providing health care insurance for
their employees other than compiling benefits entirely. The finance staff of a company can
follow strategies. They can
1. Sales Budget
Budgeted sales in units
x Price per unit
= Projected sales revenue
2. Production Budget
Budgeted product sales in units
Chanter 6 Notes
Warning, difficult chapter. There are two main learning objectives in chapter 6.
1 Absorption vs Variable costing Income Statements
2 Segmented Income Statements (Variable costing)